Nigerian Filling Stations Reduce Petrol Prices
Nigerian filling stations have followed the trend of reducing their petrol pump prices to remain competitive in the country's downstream petroleum sector, according to a market survey by DAILY POST.
While petrol prices have remained high, AA Rano and Mobil have slightly adjusted their pump prices. AA Rano now sells petrol at N1,420 per litre, down from N1,450, while Mobil has reduced its petrol price to N1,410 per litre, down from N1,435 in Abuja and its environs.
This downward adjustment comes as crude oil prices fell to around $103 and $100.30 per barrel for Brent and West Texas Intermediate (WTI), respectively, at the time of filing this report.
Earlier, DAILY POST reported that Nigerian filling stations were under pressure to adjust their fuel prices, which ranged between N1,395 and N1,450 per litre.
AA Rano and Mobil Lead Price Reduction
- AA Rano reduced petrol price to N1,420 per litre in response to market pressures
- Mobil reduced its petrol price to N1,410 per litre
Crude Oil Prices Influence Petrol Pricing
The downward adjustment in petrol prices comes as crude oil prices fell to around $103 and $100.30 per barrel for Brent and West Texas Intermediate (WTI), respectively, at the time of filing this report.
Pressure on Filling Stations
Earlier, DAILY POST reported that Nigerian filling stations were under pressure to adjust their fuel prices, which ranged between N1,395 and N1,450 per litre.
<small>Source: Daily Post Nigeria — read the original story there.</small>
